[wotan]

$9 trillion in debt equals:
--- More than the GDP of China, the world’s second richest nation.
--- More than the combined GDP of Japan and India, the next richest nations.
--- The equivalent of all monies invested in all U.S. mutual funds.
--- Four times the combined net worth of the nation’s 691 billionaires.
--- $30,000 for every man, woman and child in the United States.
--- $120,000 home mortgage for a family of four.

Time span of U.S. debt accumulation:
--- 213 years for the first $3 trillion (1776 to1989)
--- 10 years for the second $3 trillion (1989 to 1997)
--- 5 years for the third $3 trillion (2000 to 2005)

Foreign U.S. debt holders:
--- In 1970 foreigners owned about 5% of our national debt
--- In 1980 foreigners owned about 17% of our national debt
--- In 1990 foreigners owned about 18% of our national debt
--- In 1995 foreigners owned about 22% of our national debt
--- In 2000 foreigners owned about 31% of our national debt
--- In 2005 foreigners owned about 45% of our national debt

Puts the failure of the US government in perspective. Something's gotta give.

[Always Right]

Time span of U.S. debt accumulation:
--- 213 years for the first $3 trillion (1776 to1989)
--- 10 years for the second $3 trillion (1989 to 1997)
--- 5 years for the third $3 trillion (2000 to 2005)

Considering you did no adjustments for inflation, those numbers are meaningless. A $5000 car in 1989 would cost you $10,000 in 2000.

[Lancer_N3502A]

"In 2005 foreigners owned about 45% of our national debt"

You got any figures as to who these "foreigners" are?

[driftdiver]

What does $9 trillion in debt equal?

I dunno, the bank I work for has $2.7 trillion dollars a day in financial transactions. Of course this is only one of its divisions.

[ProCivitas]

Basic question: Does our national debt and/or foreign ownership of it contribute to devaluation of the dollar ('inflation')? If so, how?
I have generally thought that currency devaluation had to do with two things : an inordinate increase in the 'money supply'(m1,m2,...) and/or large-scale selling of a currency on the international currency exchange without many buyers. What would cause either?

[avacado]

The debt is meaningless as a raw number. The ability to pay back a debt is what needs to be looked at and that is the debt-to-GDP ratio. The USA has a very healthy debt-to-GDP ratio.

[InterceptPoint]

You might note that we are currently depreciating the value of a dollar at the rate of about 3% per year. This has the very "nice" effect of reducing the real value of that $9 trillion by $270 billion each and ever year.

It is also worth noting that Congress elects to spend that $270 billion too by adding to the deficit by about that much. The net effect is that the real debt grows more slowly than you think at first glance - but it does grow. Also, if Congress and the Prez would just cool it on the spending we could let the printing presses at the Fed take care of the whole thing. Remember, even at 3% annual inflation eventually the minimum wage will be $9 trillion per year although that will take quite awhile.